SOURCE: Mew & Company

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March 16, 2016 15:35 ET

Vancouver Accountants Offer Advice to Avoid Audits

Vancouver Accounting Company Warns There Is an Increasing Risk of Being Selected for an Audit in Online Article

VANCOUVER, BC--(Marketwired - March 16, 2016) - Mew + Company, a firm of accountants in Vancouver, recently published a blog warning that self-filing your return can increase the chances of attracting the scrutiny of the CRA. Recent articles in the Globe and Mail have reported that the CRA has been devoting more resources into common routine filing errors made by honest taxpayers rather than uncovering intentional fraud. Requests for financial documents to support routine deductions made by taxpayers are on the rise, which makes working with a professional firm a better investment than ever. For more information, go to http://www.mewco.ca/tax/blog/.

Accounting firms almost always provide support to clients being audited because it is part of their responsibilities, states the blog. Professional accountants have a vested interest in their clients' audits, especially if they prepared the return(s) being audited. After all, the results of an audit reflect upon the accuracy and knowledge of the accountant.

To help protect and prepare yourself, working with a professional accounting firm from the onset is recommended. The government is less likely to audit professionally prepared tax returns. Also, an experienced firm can advise taxpayers on areas that are red flags for the CRA.

Even though professional fees can be expensive, the benefits of retaining a professional tax preparation service will help offset those fees. In addition, accounting fees are usually a tax-deductible expense.

The article concludes that professional fees pay for itself when it comes to dealing with the CRA. A knowledgeable firm will have the tools and knowledge to represent you if an audit occurs, so it's best to do your research and choose a professional accounting firm with an in-depth understanding of your business and Canadian tax laws.

About the Company

Mew + Company, Vancouver, is an ideal solution to the taxation problem. With a simple philosophy of building long-lasting customer relationships, the company has been serving corporate clients in a variety of fields-including restaurants, real estate, retail, and the service industry. Investing in their specialist services will undoubtedly be fruitful for all kinds of clients.

To learn more about Mew + Company and discuss their services, log on to http://mewco.ca/.

Contact Information

  • Lilly Woo, CPA, CA, CFE, CFP
    Mew + Company Chartered Professional Accountants
    604 688 9198
    Company Website: http://www.mewco.ca